Digital solutions such as the eNote are gaining traction and represent an important step towards a fully With eCommerce law requirements, and upon origination, is registered on the MERS ® eRegistry.
An electronic note, or eNote, is the functional equivalent of a paper promissory note when created in conformity The increased pace of transformation of the mortgage industry, ICE and MERS announced earlier in April that the number ofĮNotes added to the MERS ® eRegistry during the first quarter of 2019 exceeded the total number of eNotes registeredįor all of 2018.
Will continue our efforts to simplify the industry for all of its stakeholders,” Clifford added. Vision as it applies to the residential mortgage industry and, as we become part of Intercontinental Exchange, our team at Simplifile How ICE has helped to transform markets going through an analog to digital conversion and has made them more transparent and efficientįor all participants,” said Paul Clifford, Founder and President of Simplifile. The company has delivered a consistent history of revenue growthĪnd has been profitable every year since its founding. Solutions to serve the entire real estate transaction supply chain. Leveraging its core eRecording product, Simplifile continues to introduce additional electronic Simplifile today connects 1,922 counties in the United States, representing over 80 Mortgage recording jurisdictions in the U.S. Starting with Utah County, it began the process of onboarding, one by one, all 3,594 Simplifile was founded in 2000 with the goal of digitizing theĬlosing process of the real estate industry. Simplifile will enhance ICE’s efforts to further streamline a legacy process ripe for innovation,” McEntee added. “By connecting lenders, settlement agents, and counties through a robust network, Into the public record in a seamless, auditable and transparent method,” said Chris McEntee, President of ICE Mortgage Services. Simplifile understood this trend early, uniquely solving for the critical aspect of submitting required documents To be based in Provo and operate under the Simplifile name.Ĭonsumers, and investors can obtain significant benefits and savings as the real estate process shifts from paper-based to digital Upon closing, Simplifile, which has approximately 200 employees, will continue On its previously announced capital return plans. ICE does not expect the transaction to have any impact Of this year, subject to the expiration or termination of the applicable waiting period under the Hart-Scott-Rodino Antitrust The transaction is expected to close in the third quarter To acquire Simplifile, which is based in Provo, Utah and has no debt. Transparent for a range of industry stakeholders. Industry’s shift to digitization and will, together, help to make the mortgage closing process simpler, faster, and more Simplifile and MERS support the residential lending Its customers submit electronic documents into the public record, the acquisition of Simplifile expands the ICE Mortgage Services
Liaison between lenders, settlement agents, and county recording offices, streamlining the local recording of residential mortgage Simplifile operates one of the largest networksĬonnecting the agents and jurisdictions that underpin national mortgage records, serving as an electronic Intercontinental Exchange Announces AgreementĮxchange (NYSE: ICE), a leading operator of global exchanges and clearing houses and provider of data and listings services, todayĪnnounced that it has entered into a definitive agreement to acquire Simplifile, LC.
0 kommentar(er)
